Vietnam jumps in competitiveness ranking

Vietnam has jumped up two ranks to 68th place among 144 economies worldwide, according to the Global Competitiveness Report 2014-15 released on September 3 by the World Economic Forum (WEF) in Geneva.

Two of the most remarkable points in the report were Vietnam’s labor market efficiency, which was at the 49th spot, and its market size, at the 34th spot.

In terms of technological readiness, the country jumped three ranks to 99th place, with 43.9 percent of the population having access to the internet.

The banking and finance sector was found to be vulnerable as its financial market development took the 90th spot.

The report’s competitiveness ranking is based on Global Competitiveness Index (GCI) scores, which are calculated by drawing together 12 categories of country-level data that collectively make up a comprehensive picture of a country’s competitiveness.-